- VanEck predicted that ETH’s price could rise to $51,600 by 2030 in their latest report.
- The global investment manager also believes that Ethereum’s revenues will soar to $51 billion.
- At press time, ETH was trading at $1,812 after it printed a 4.76% gain over the past 24 hours.
The price of Ethereum (ETH) may rise to above $50,000 by 2030 according to global investment manager VanEck. In their latest video, Coin Bureau Clips covered the highlights of a report released by the reputable investment manager, which was very bullish on the leading altcoin.
In the report, the firm predicted that ETH will become a strong alternative to U.S. Treasury bills by 2030 after the network transitioned from Proof of Work (PoW) to Proof of Stake (PoS) over the past 2 years. VanEck also shared their bearish, bullish, and base predictions for ETH in their analysis.
The firm’s bearish target for ETH is $343, while its bullish price target for the crypto is $51,600. The spread between the two targets is fairly large. Therefore, VanEck also gave a base prediction, which is a conservative target between the two extreme price points mentioned in their report. According to the firm, the base prediction for ETH is $11,849.
Not only did VanEck give their bearish, bullish, and base price predictions for ETH for 2030. The global investment manager also predicted that a significant portion of commercial activity will migrate to the blockchain, and that Ethereum will benefit the most from this transition.
In their report, VanEck predicted that 5% of finance, banking, and payments activity will take place on Ethereum. Furthermore, the firm forecasted that ETH will process 20% of metaverse, social, and gaming activity, as well as 10% in infrastructure commercial activity by 2030.
Should these predictions come true, it will be a major boost for the Ethereum blockchain and its native token, ETH. VanEck believes that network revenues for Ethereum will increase from around $2.6 billion per annum to $51 billion by 2030.
At press time, the altcoin was trading at $1,812 after it printed a 4.76% gain over the past 24 hours according to CoinMarketCap. This positive daily performance flipped ETH’s weekly performance into the green, which stood at +4.09% as a result.
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